Tuesday Nov 22, 2011 the Bureau of Labor Statistics (BLS) released their October 2011 Regional and State Employment and Unemployment report (the October statistics are preliminary). A generally positive trend across the country in increased employment was found.
However, the report is mixed with increased job creation and increased unemployment rates based on the U-3 definition of unemployment (seeking a job in the last four weeks).
From September to October the nonfarm payroll employment increased in 39 states and the District of Columbia. Employment decreased in 11 states.
New York lost 8,300 nonfarm payroll jobs in October, making it one of the top three states for job loss in October 2011. The other states included WI with -9,700 and MN -6,100.
The leading states for job creation in October 2011 were IL with 30,000 new jobs, CA with 25,700 and VA with 14,000 new jobs.
From a year earlier, nonfarm payroll employment increased in 45 states and the District of Columbia. Employment decreased in 5 states. CA led the direction with 239,100 new jobs created over the past year followed by TX with 231,600 and FL with 93,900 new jobs created. GA had the largest decrease of employment with 33,300 jobs lost over the past year.
Although the net effect for NY was a loss of jobs in October, the unemployment rate is steady with a downward bias. NY reported an unemployment rate of 8.3% in October 2010, 8% in August and September of 2011 and 7.9% (preliminary) for October 2011.
New York City saw a minor uptick of 0.1% in October to 8.8% from 8.7% in August and September 2011. One year earlier the New York City unemployment rate was 9%.
In the region, NJ reported the October unemployment rate of 9.1% from September’s 9.2% and the August rate of 9.4%. CT is also experiencing a decline of unemployment from 9% in August and 8.9% in September to 8.7% in October. One year earlier CT’s unemployment rate was 9.1%.
Of the four large regions of the nation, the Northeast reported an October 2011 unemployment rate of 8.1%, the lowest of the four regions. Followed by the Midwest of 8.5%; the South with a 9% unemployment rate and the West with 10.3%.
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